Netlist, Inc. (OTCQB:NLST) today announced the entry of a Final Judgment in the case of Netlist v. Samsung Electronics Co. LTD., et. al., (EDTX Case 2:22-cv-00293-JRG) in the United States District Court for the Eastern District of Texas.
The Court's Final Judgment upheld the jury's verdict in the November 2024 trial and confirmed that Samsung willfully infringed Netlist's patented technologies. Chief Judge Gilstrap ordered Netlist receive $118 million for Samsung's infringement of Netlist's patents.
C.K. Hong, Netlist's Chief Executive Officer, said, "The Final Judgment by the court validates the jury's verdict, the damages award, and confirms that Samsung willfully infringed Netlist's patented technologies and that none of the asserted claims are invalid. Netlist is committed to securing fair value for the unauthorized use of its patents and remains confident that the Court's ruling in this case will remain intact through any post-judgment motions and appeal."
In April 2023, Netlist received a separate jury award for the willful infringement of its patents against Samsung and was awarded $303 million in damages. This brings total damages awarded to Netlist against Samsung to $421 million.
About Netlist Netlist is a leading innovator in advanced memory and storage solutions, pushing the boundaries of technology to deliver unparalleled performance and reliability. With a rich portfolio of patented technologies, Netlist inventions are foundational to the advancement of AI which is revolutionizing computing and empowering businesses and industries to thrive in the digital age. To learn more about Netlist, please visit www.netlist.com.
Safe Harbor Statement This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements other than historical facts and often address future events or Netlist's future performance. Forward-looking statements contained in this news release include statements about Netlist's ability to execute on its strategic initiatives. All forward-looking statements reflect management's present expectations regarding future events and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed in or implied by any forward-looking statements. These risks, uncertainties and other factors include, among others: risks that a counterparty may appeal a jury verdict or judgment which could cause a lengthy delay in Netlist's ability to collect the damage award or overturn the verdict or judgment or reduce the damages award; potential delays in expected litigation and other milestones; risks related to Netlist's plans for its intellectual property, including its strategies for monetizing, licensing, expanding, and defending its patent portfolio; risks associated with patent infringement litigation initiated by Netlist, or by others against Netlist, as well as the costs and unpredictability of any such litigation; risks associated with Netlist's product sales, including the market and demand for products sold by Netlist and its ability to successfully develop and launch new products that are attractive to the market; the success of product, joint development and licensing partnerships; the competitive landscape of Netlist's industry; and general economic, political and market conditions, including quarantines, factory slowdowns and/or shutdowns, acts of terrorism, war and other conflicts. All forward-looking statements reflect management's present assumptions, expectations and beliefs regarding future events and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed in or implied by any forward-looking statements. These and other risks and uncertainties are described in Netlist's quarterly report on Form 10-Q for its most recently completed quarter ended September 28, 2024, filed on November 7, 2024, and the other filings it makes with the U.S. Securities and Exchange Commission from time to time, including any subsequently filed quarterly and current reports. In light of these risks, uncertainties and other factors, these forward-looking statements should not be relied on as predictions of future events. These forward-looking statements represent Netlist's assumptions, expectations and beliefs only as of the date they are made, and except as required by law, Netlist undertakes no obligation to revise or update any forward-looking statements for any reason.
For more information, please contact: Investors/Media The Plunkett Group Mike Smargiassi NLST@theplunkettgroup.com (212) 739-6729
